Finland trials basic income for unemployed

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Finland introduces basic income for unemployed

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– Plan hopes to create incentive for more Finns to work since fear of losing welfare benefits make many act picky on jobs.Finland has become the first country in the world to pay a basic income to randomly picked citizens on a national level in an experiment aiming at dismissing poverty, motivate people to join the workforce and decrease unemployment.The experiment is conducted with 2,000 randomly picked unemployed participants between the ages of 25 and 58. .

Finland has started a national basic income experiment hoping it will encourage more people to work — Quartz

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– By now you’ve probably heard of universal basic income.Giving everyone a set amount of money is billed as the solution to the the changing nature of work, when automation renders large swathes of the population unemployable.It has a surprising amount of political support, with proponents saying it can reduce both poverty and bureaucracy. .

Finland trials basic income for unemployed

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– Finland has become the first country in Europe to pay its unemployed citizens an unconditional monthly sum, in a social experiment that will be watched around the world amid gathering interest in the idea of a universal basic income.Under the two-year, nationwide pilot scheme, which began on 1 January, 2,000 unemployed Finns aged 25 to 58 will receive a guaranteed sum of €560 (£475).The income will replace their existing social benefits and will be paid even if they find work. .